News

Bloomberg Toyota Motor Corp. and Mazda Motor Corp. are pressing for an incentive package of at least $1 billion from US states trying to land their $1.6 billion joint car factory, according to people familiar with the negotiations. Toyota and Mazda plan to brief their boards on a short list of states contending for the plant in the coming weeks ...

Bloomberg States regulators and health insurers are rushing to react to the latest move by the Trump administration to dismantle parts of the Affordable Care Act, less than three weeks before their citizens and customers start signing up for coverage. President Donald Trump’s administration said it wouldn’t pay subsidies to insurers that are used to help lower-income people with medical ...

Bloomberg Amazon.com Inc. is pushing into Brazil in earnest, sending a shudder through local retail stocks. After selling just books for a couple of years, Amazon is signaling it will expand in Latin America’s largest market, recruiting for several positions in Brazil, Bloomberg reported this week. Newspaper Valor said Amazon will begin selling electronics as soon as next week, because ...

Bloomberg Uber Technologies Inc., the world’s largest startup, appealed a London regulator’s decision to revoke the car service’s license as it seeks more settlement talks. Uber, which can continue to operate during the legal process, was banned by Transport for London over safety concerns and the company’s attempts to avoid regulation. The appeal, which could drag on for months, was ...

Bloomberg Facebook Inc. “absolutely” supports the public release of all ads bought on its platform by Russian government-linked accounts but maintains that it’s up to Congress to decide when to do so, Chief Operating Officer Sheryl Sandberg said. The company is giving lawmakers whatever they ask for and will “stand by them” when they’re ready to release the ads, she ...

Bloomberg Category 2 Hurricane Ophelia is threatening everything from farms to a golf course owned by the family of US President Donald Trump as it heads for Ireland. Ophelia’s top winds were 155 kilometres an hour by 3.40 pm London time, reaching the second level of the five-step Saffir-Simpson scale. The storm, about 545 miles southwest of the Azores, is ...

Bloomberg Bitcoin’s seemingly unstoppable surge to record highs isn’t deterring competitors. Former Silicon Valley developers are working on at least two new versions of the digital currency. Basecoin is seeking to solve bitcoin’s volatility with a team of former Google Inc. coders that are building what they hope will be a more stable version of the cryptocurrency. Cypherium has former ...

ABU DHABI / WAM Standard & Poor’s has forecast Abu Dhabi GDP to rise to AED850 billion and AED890 billion at current prices in 2017 and 2018 respectively, attributing the growth to the momentum witnessed by the oil and non-oil sectors since the beginning of this year. The credit ratings agency expected the emirate’s per capital GDP to amount to ...

DUBAI / WAM Paul Drum, Head of Policy at CPA Australia and an expert in tax law, said that it is anticipated that around 5,000 finance and accounting jobs will be created within the GCC region with the introduction of Value Added Tax (VAT). In a workshop at the University of Wollongong in Dubai (UOWD), on the new tax law, ...

Dubai / Reuters Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, posted a 26 percent increase in third-quarter net profit on Wednesday as higher income from Islamic financing and investing offset a rise in impairment charges. The bank made AED1.11 billion ($302.2 million) in the three months to September 30, it said in a statement. This compares ...